‘These judges bought what a small group of white men were selling’: Founder of grant program slams federal appeals court for eliminating funding for Black women’s businesses

Main: Arian Simone, one of the co-founders and CEOs of The Fearless Fund, speaks to media as attorney Benjamin Crump, back left, looks on, outside the James Lawrence King Federal Building in Miami, following a hearing on Wednesday, Jan. 31, 2024. (AP Photo/Rebecca Blackwell). Inset: Edward Blum speaks during a news conference on the Supreme Court’s decision on affirmative action in college admissions at the Press Club in Washington, Thursday, June 29, 2023. (AP Photo/Jose Luis Magana).

Conservative activist Edward Blum, the driving force behind the U.S. Supreme Court’s recent eradication of race-based affirmative action programs in college admissions, convinced a federal appeals court that a grant program designed to give Black women business owners access to funding should be struck down.

Two federal judges appointed to the U.S. Court of Appeals for the Eleventh Circuit by Donald Trump sided with Blum and against a venture capital firm’s grant program for Black women business owners Monday. The ruling is the latest blow dealt to a program seeking to increase racial diversity in the professional world.

The program, the Fearless Strivers Grant Contest, known as the “Fearless Fund,” is an entrepreneurship funding competition that is open only to businesses owned by Black women. The program’s goal is to “bridge the gap in venture capital funding for women of color founders building scalable, growth aggressive companies.” Four winners are offered $20,000 apiece along with digital tools and mentorship to help their businesses flourish. Eligible businesses must be at least 50% owned by Black women.

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